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Global inflation concerns are adding to gold’s luster, with a recent report predicting that Chinese demand for gold as an inflation hedge is resulting in unprecedented physical demand for the precious metal, which will likely push prices higher this year.
...What’s more, it is clear that gold is being bought as an investment, rather than for jewellery. According to World Gold Council figures, Chinese retail demand for gold jumped 70 per cent between October 2009 and September 2010, but in the same period the demand for gold jewellery rose by a much more modest 8 per cent.
...The newsletter notes that total Chinese demand for gold in 2010 is expected to reach approximately 600 tonnes, just behind India’s 800 tonnes. This would mean that together the two countries would account for more than half of estimated world mine production of 2,652 tonnes in 2010
...What’s more, it is clear that gold is being bought as an investment, rather than for jewellery. According to World Gold Council figures, Chinese retail demand for gold jumped 70 per cent between October 2009 and September 2010, but in the same period the demand for gold jewellery rose by a much more modest 8 per cent.
...The newsletter notes that total Chinese demand for gold in 2010 is expected to reach approximately 600 tonnes, just behind India’s 800 tonnes. This would mean that together the two countries would account for more than half of estimated world mine production of 2,652 tonnes in 2010
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